SPY Trade on Oct 20, 2011 14:33 from thearmotrader: Tradervue User Stock Trades.

BIG mismanagement trade.

Plan for trade was:
Long on a small pullback as it seemed like the SPY wanted to reverse. After that small pop, I wanted to get long 121.25. But I became worried I would miss the move so I got long 121.30, 5 cents above my original entry price.

Had I gotten long .25, I would not have hit out. But that is not an excuse. Even with a long at .30, I should not have hit out until it dropped .20 (at least).

Missed a good 75c move to major resistance (at 122).

Lesson: Be patient and give setups that I have conviction for more room. Stop was too tight for a solid setup.

Execution detail:

Date/time	Symbol	Side	Price	Position
2011-10-20 14:33:51	SPY	buy	$121.300	long
2011-10-20 14:34:40	SPY	sell	$121.240	0

#chart1 { background-image:url('/shared/charts/pricechart?symbol=SPY&trade=67729&end=20111020150440&i=m1&TimeRange=90&Volume=1&ChartType=candlestick&width=450&height=275');}

#chart2 { background-image:url('/shared/charts/pricechart?symbol=SPY&trade=67729&end=20111020160000&i=m5&TimeRange=90&Volume=1&ChartType=candlestick&width=450&height=275');}

#chart3 { background-image:url('/shared/charts/pricechart?symbol=SPY&trade=67729&end=20111020160000&i=m15&TimeRange=90&Volume=1&ChartType=candlestick&width=450&height=275');}

#chart4 { background-image:url('/shared/charts/pricechart?symbol=SPY&trade=67729&end=20111119&i=d&TimeRange=120&Volume=1&ChartType=candlestick&width=450&height=275');}

SPY Trade on Oct 20, 2011 14:33 from thearmotrader: Tradervue User Stock Trades.

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